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The purchase is the latest bolt-on for the aircraft parts company, which is working toward securing new business on commercial flight platforms. The buyer has said in filings that it expects a modest decline in revenue from the defense market this year amid uncertainty about U.S. defense spending.

TransDigm was little changed at $154.58 after gaining 3.9% this week.

Westbury, N.Y.-based Arkwin was incorporated in 1951 and had about $95 million in sales for 2012. It employs about 300 people.

Arkwin serves both the commercial and military flight markets. Commercial platforms that use the target's wares include the Boeing 737 and 777, Airbus 320, and Bombardier and Embraer jets. Arkwin also builds components for the Joint Strike Fighter, C-130, F-16 and F/A-18 military planes, and the Sikorsky SH-60, S-76 and S-92 helicopters.

The deal should close by the second half of the year.

"The highly engineered products will allow us to expand our content on a number of substantial platforms and engine applications. Arkwin fits well with our consistent product and acquisition strategy," TransDigm chief executive W. Nicholas Howley said in a statement Tuesday.

TransDigm has been an active acquirer, using M&A to build up its commercial offerings in particular. In August 2011 it bought Kent, Ohio-based laminated parts and aircraft interior maker Schneller Holdings LLC from Graham Partners Inc. of Newtown Square, Pa., for $288.5 million in cash. Three months later, TransDigm bought counterpart Harco Laboratories Inc., of Branford, Conn., for $84 million in cash. Harco makes engine cable assemblies for engines produced by the Pratt & Whitney division of United Technologies Corp. and Rolls-Royce plc.

In January 2012, TransDigm acquired AmSafe Global Holdings Inc., a Phoenix maker of safety restraints, through a $750 million sale by the company's private equity owners, Berkshire Partners LLC and Greenbriar Equity Group LLC.

Last month, TransDigm announced a tender offer for Clearwater, Fla., peer Aerosonic Corp. for about $39 million.

TransDigm reported net income of $67.9 million for its fiscal second quarter ending March 30 on $456.6 million in sales, in a regulatory filing made May 5. That compared with $81.5 million in net income on $423.4 million in sales for the same period in 2012. The company attributed the latest results to increased interest expenses.